December 14, 1994 |
In the next few weeks, after the gifts have been opened, the tree taken down and party decorations packed away, some less cheery reminders of Christmas will linger as holiday bills arrive. Free spenders may find themselves unable to handle their mounting debts. But financial experts warn that falling behind with payments can be expensive and jeopardize future borrowing plans.
CALIFORNIA | LOCAL
June 23, 1990 |
U.S. Secret Service agents have uncovered a fraud ring that was funneling sensitive credit information out of the TRW Credit Data Division, one of the nation's largest credit bureaus, authorities said Friday. The investigation, conducted with the aid of TRW security personnel, is nearly complete, The Times has learned. Several sealed indictments have been obtained, according to the Secret Service, which investigates credit card fraud.
October 4, 1998 |
Home buyers are no longer being penalized for searching long and hard for the best mortgage rate and terms. Now, thanks to a group of lenders who worked to persuade the three credit bureaus to change their method of rating mortgage applicants, you can scout around for the best deals until you are satisfied you can't do any better. "This is huge," says Ginny Ferguson, a Pleasanton, Calif., mortgage professional who led the assault as chairman of the National Assn.
July 10, 2011 |
The higher your credit scores, the better shot you have of getting a loan or credit card application approved. Improving your credit scores takes time, but it can be done. Start by getting free copies of your three major credit reports at the government-authorized site annualcreditreport.com. 1. Check your reports for accuracy. Financial columnist Liz Weston, author of "Your Credit Score," says to look for credit cards or other accounts that aren't yours, negative entries that are more than seven years old, duplicate past-due items and incorrect Social Security number or date of birth.
June 13, 1999 |
When you've made your monthly home mortgage payment on time for years, you naturally assume that you've built up a good credit history. That credit report or history, in turn, can be crucial in helping you borrow money elsewhere, get a job or even get insurance. Yet large numbers of American homeowners are the unsuspecting victims of a little-known but growing trend among certain lenders: Their payment histories are being kept secret, never reported to any credit bureau.
September 6, 2013 |
WASHINGTON - Policy changes by two of the biggest players in the mortgage market could open doors to home purchases this fall by thousands of people who were hard hit by the housing bust and who thought they'd have to wait for years before owning again. Fannie Mae, the federally controlled mortgage investor, has come up with a "fix" designed to help large numbers of consumers whose short sales were misidentified as foreclosures by the national credit bureaus. Under previous rules, short-sellers would have to wait up to seven years before becoming eligible for a new mortgage to buy a house.
September 9, 2012 |
WASHINGTON - With generous new guidelines from Fannie Mae and Freddie Mac likely to stimulate large numbers of short sales by underwater homeowners, what effect will the sales have on the sellers' credit scores? It's a crucial question, because short sales typically cause FICO scores to plummet, sometimes 150 points or more. This, in turn, complicates sellers' credit capabilities for years and makes additional borrowing - whether for auto loans, credit cards or new mortgages - tougher and more expensive.
January 27, 2013 |
Dear Liz: I paid all of my old collection accounts except for two, which now are beyond the statute of limitations. I would like to find the best way to negotiate with the collection agencies without getting sued. Even though the original delinquency was over four years ago, the agencies are reporting these every month as current debt, which is really hurting my credit score. My intent is to offer a lump-sum settlement amount if they will remove the report from my credit file with the bureaus, or alternately in return for a "paid" notation on my report file.
August 19, 1992 |
Two Orange County credit reporting services, along with an Ohio company, have agreed to a settlement aimed at preventing breaches of personal privacy, the Federal Trade Commission said Tuesday. The FTC had alleged that the three companies failed to prevent individuals' credit reports from being reviewed by people who had no legitimate reason to see them. The companies--Information Resource Service Co. in Fullerton, CDB Infotek in Orange and Inter-fact Inc.
CALIFORNIA | LOCAL
August 26, 1992
I would like to clarify a few points and correct some errors made in your editorial (Aug. 9) regarding credit reporting. We support HR 3596, the Consumer Reporting Reform Act of 1992, as reported out of the House Banking Committee and currently pending before Congress. It contains over 40 provisions that would benefit consumers. However, it also provides for preemption of state credit reporting laws existent or pending in 21 states. We favor preemption for one simple reason.